#加密监管政策 Seeing five platforms like Circle and Ripple being approved for federal trust bank licenses, my first reaction isn't excitement but caution. This is indeed a policy-level positive, but don't be fooled by the words "listed."

Remember the wave in 2017? Every time a regulatory "friendly" signal appeared, retail investors would start FOMO, only for the big players to harvest profits in one go. This time is different: policies are indeed improving, but that precisely means the market will become more regulated and transparent—those projects surviving on information asymmetry are doomed.

What truly matters is: after obtaining licenses, these institutions will have stricter risk controls and higher thresholds. The good news for retail investors is that the on-chain ecosystem will be safer, but the bad news is that opportunities for overnight riches will decrease. The project lifecycle assessment will become critical—no longer just analyzing technical charts, but also monitoring compliance progress and real business implementation.

Don't take policy positives as a signal to jump in. This is a long-term benefit, indicating the entire track is moving toward maturity, but a mature market will also eliminate projects without solid fundamentals. Carefully studying the project itself is much safer than chasing trends. The secret to lasting in this market is always asking yourself: if this project collapses, how much will I lose, rather than how much can I make.